Shivalik Bimetal Controls Limited has informed the Exchange about General Updates - Approval of Board to file application for NOC w.r.t request received for Reclassification under Regulation 31A of SEBI (LODR) Regulations, 2015
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The Board of Directors of Shivalik Bimetal Controls Limited has approved filing for NOC to reclassify M/s Solan Developers Private Limited from 'Promoter and Promoter Group' to 'Public' category. The request was received on May 11, 2026. Notably, Solan Developers Private Limited holds zero shares in the company. The reclassification is subject to approval from BSE and NSE under Regulation 31A of SEBI LODR Regulations. This appears to be a housekeeping matter to clean up the promoter list as the entity has no shareholding.
Since Solan Developers has zero holding, this reclassification has no immediate impact on shareholding structure or stock price. It is an administrative cleanup of the promoter category in the company's shareholding records.